Science

Apple earnings surge as it beats Wall Street forecasts

Apple earnings surge as it beats Wall Street forecasts”

Positive reviews for the new device and expectations that many users are on the verge of upgrading from older iPhones have sent Apple's stock to record highs, pushing it closer to becoming the first publicly listed company with a stock market value above $1 trillion.

The current camera specs help the iPhone X to “strike a phenomenal balance between picture quality and form factor design”, says Kuo. That's down only slightly from the 11.4 million sold last quarter, during which Apple introduced new models of the iPad Pro.

The device category rose about 2% during Q4 as compared to a year ago, which seems like a modest amount considering no one expected the iPhone 8 and iPhone 8 Plus to do as well as they did.

Mr Ives predicted Apple would sell 50 million iPhone X handsets in pre-orders alone - 10 million more than he initially predicted - creating a "defining product launch" for the company. Apple sold 10.3 million iPads, 46.7 million iPhones, and 5.4 million Macs during the quarter. However, a lot of people queuing up outside Apple stocks leaked over the preceding various years with various customers preferring to buy online, the limited production for the iPhone 8 has noticeably been due to secondary reports.

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Analysts interviewed by AFP see signs of strong demand for iPhone X, perhaps fueled by the company's famously devoted fans who have shunned freshly released iPhone 8 models to wait for the 10th anniversary device.

For the company's fiscal fourth quarter, which ended September 30, Apple reported earnings of $2.07 a share on revenue of $52.6 billion. We expect that the iPhone X will boost Apple's revenues even further next quarter. Most analysts are predicting Apple won't be able to catch up with demand until early next year. By comparison, Apple shipped almost 217 million iPhones in its just-completed fiscal 2017. Maestri also told Reuters the company had doubled its revenue in India during the fiscal fourth quarter, though he did not give any details. Apple must also be improving its margins because the associated revenue increase was a whopping 25 percent and up 28 percent from the previous quarter. If only we'd get Apple Watch or Apple TV sales numbers.

Still, with a little reading between the lines, Apple's fiscal fourth-quarter performance may hint at whether consumers are waiting on the new phone to splurge during the all-important holiday season. Sales in China were up 12%, reversing a drop off in the company's second largest market.



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